加拿大外贸
Accelerated Depreciation加 速 折 舊 An accounting method that allows a company to write off an asset''s cost at a faster rate than the traditional method.Accidental-death-and-dismemberment insurance意 外 死 亡 及 斷 肢 保 險 A type of insurance that pays if you are killed or maimed in an accident but provides no benefit in the event of illness or illness-related death.Account Payable應 付 帳 款 Money a company owes for merchandise or services bought on credit.Account Receivable應 收 帳 款 Money owed to a company for merchandise or services bought on credit.Accountant會 計 師 ， 會 計 員 ， 會 計 A person who records and examines individuals'' or businesses'' finances.Accountant''s Opinion查 帳 意 見 書 A signed statement of opinion from an accounting firm of a corporation''s financial statements. The auditor must follow generally accepted accounting principles. The opinion can be unqualified or qualified. A qualified opinion calls attention to limitations of the audit or unusual items in the statement.Accrual Basis應 計 制 ， 權 責 應 計 制 Accounting method in which income and expenses are accounted for as they are earned or incurred, although they may not have been received or paid yet.Actual Cash Value Coverage實 際 現 金 價 值 保 額 In home insurance, the type of policy that pays only the current, depreciated value of furniture and other household possessions when they are damaged or destroyed. Provides less protection than replacement-cost coverage.Adjustable-Rate Mortgages (ARMs)可 調 息 按 揭 Home mortgages with interest rates that move up and down over time, based on changes in market interest rates.Adjusted Gross Income調 整 後 總 收 入 A step in arriving at how much of your income is taxable by Uncle Sam. Adjusted gross income, or AGI, consists of your gross income from taxable sources minus certain items, such as payments to a Keogh plan or a deductible Individual Retirement Account. AGI minus deductions and personal exemptions equals your taxable income.Affiliate聯 號 ， 聯 營 公 司 ， 附 屬 公 司 Two companies are affiliated when one owns less than a majority stake of the other, or when both are subsidiaries of a third company. Or, generally, any association between two companies that is short of a parent-subsidiary tie.Aggregate總 額 ， 合 計 ， 法 人 團 體 A total amount.Alimony贍 養 費 A type of payment from one former spouse to another that is agreed to as part of a divorce settlement. Alimony is tax-deductible for the person who pays it and taxable income for the person who receives it.评论
All-Ordinaries Index所 有 普 通 股 指 數 Index of stocks on the Australian stock market chosen on the basis of market capitalization and volume.Alternative Minimum Tax代 用 最 低 稅 A tax-law provision that ensures that individuals and companies pay some income tax, no matter how many deductions or credits they claim. Under the AMT, certain money not usually considered taxable income - sums usually deductible, or income on tax-free bonds -- are treated as taxable.American Depository Receipts美 國 寄 存 單 據 ， 預 託 證 券 Receipts held by an American bank that represent shares in a foreign company. Also called American depository shares. Abbreviated as ADRs.外 國 在 美 國 的 未 掛 牌 而 可 買 賣 的 寄 存 票 據 。American Option美 式 期 權 An option that may be exercised at any time prior to expiration.容 許 持 有 人 在 期 權 合 約 到 期 日 或 之 前 任 何 時 間 內 行 使 的 認 沽 或 認 購 期 權 。 Amortization攤 還 ， 分 期 攤 還 ， 攤 銷 The accounting procedure that companies use to write off intangible rights or assets -- such as goodwill, patents or copyrights -- over the period of their existence.Annual percentage rate年 百 分 率 The interest rate borrowers pay on a loan. Most of a loan''s up-front fees are factored into the APR.Annual-renewable-term insurance年 可 變 期 限 保 險 Term insurance that is renewed each year, with premiums going up each time.Annual report年 報 The yearly report of a company''s financial state and organization prepared by management for shareholders.Annuity年 金 ， 年 積 金 ， 養 老 金 A stream of payments that continue for the recipient''s life, or some other period. Also, a tax-deferred investment account sold by insurers, banks, brokerage firms, and mutual fund companies, and a common investment option in certain retirement plans. With an "immediate" annuity, the buyer hands over a lump sum and receives payments that begin immediately. The purchase is usually irrevocable, and payments are usually fixed for life. With a "deferred" annuity, the money remains in the annuity to accumulate without being taxed until taken out, usually years later. "Fixed annuities" provide a rate of return that is fixed for a year or so but that then can move up and down. "Variable annuities" allow investors to allocate their money among a basket of mutual fund-like "sub-accounts"; the return depends on the performance of the funds selected. Watch out for high fees and penalties for early withdrawals
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Antitrust law反 壟 斷 法 ， 反 托 拉 斯 法 Any law that encourages competition by limiting unfair business practices and curbing monopolies'' power.Appreciate增 值 ， 升 值 An increase in an asset''s value.Arbitrage套 戥 ， 套 利 A technique of buying and selling securities to take advantage of small differences in price.同 時 買 賣 類 似 商 品 ， 賺 取 兩 者 間 的 差 價 。Asked賣 價 ， 要 價 The price that someone is willing to accept for a security or an asset. In the stock market, the ask portion of a stock quote is the lowest price anyone is willing to accept for a security or an asset at that time.市 場 要 求 入 股 票 或 其 他 金 融 工 具 的 價 格 ， 即 市 場 求 沽 的 價 格 。 Asset資 產 Everything a company or individual owns or is owed.Asset-backed securities具 資 產 保 證 證 券 Securities backed by loans or accounts receivable. For example, an asset-backed bond is created when a securities firm bundles some type of debt, like car loans, and sells investors the right to receive the payments that consumers make on those loans.Asset management accounts資 產 管 理 帳 戶 All-in-one accounts that allow customers of brokerage firms to buy and sell securities and store cash in one or more money market mutual funds. Asset-management accounts generally offer check-writing privileges, credit or debit cards, and automatic transfers from one account to another. They often come with an annual fee of up to $100.At the money剛 到 價 An option with a strike price equal to the current price of the instrument, such as a stock, upon which the option was granted.Auction market拍 賣 市 場 Trading securities on a stock exchange where buyers compete with other buyers and sellers compete with other sellers for the best stock price. Trading in individual stocks is managed and kept orderly by a specialist.Auditor''s report核 數 師 報 告 ， 查 帳 員 報 告 The independent accounting firm''s opinion on whether the company''s financial statements conform to generally accepted accounting principles.Average平 均 數 ， 平 均 In the stock market, averages are indicators that measure price changes in representative stock prices. The most popular indicator is the Dow Jones Industrial Average, which measures the performance of 30 industrial stocks.
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Balanced fund平 衡 基 金 A mutual fund that has three investment objectives: conserve investors'' principal, pay steady income and promote long-term growth of both principal and income.美 國 互 助 信 託 投 資 基 金 之 一Balance of payments國 際 收 支 平 衡 表 ， 國 際 收 支 ， 國 際 收 支 差 額 A statement of a country''s trade and financial transactions with the rest of the world over a period of time.Balance of trade對 外 貿 易 差 額 ， 國 際 貿 易 差 額 The difference between a country''s imports and exports during a specific time period.Balance sheet資 產 負 債 表 Financial statement that lists a company''s assets and liabilities as of a specified date.Banker''s acceptance銀 行 承 兌 ， 銀 行 承 兌 票 據 A form of financing used in import/export transactions.Bankruptcy破 產 ， 倒 閉 A legal process governed by the U.S. bankruptcy code for people or companies unable to meet financial obligations. The bankruptcy code is divided into chapters that provide different types of relief. Chapter 7 governs liquidation rather than reorganization. Chapter 9 provides for municipal debt adjustments. Chapter 11 provides for reorganization and repayment for individuals, partnerships, and corporations that are domiciled in the U.S. Chapter 12 governs reorganization and repayment for farmers or closely-held farming corporations having debt of no more than $1.5 million. Chapter 13 provides for individual debt adjustments and is an alternative to liquidation under Chapter 7.Basis point基 點 ， 最 基 本 單 位 The smallest measure used in quoting yields on bonds and notes. One basis point is 0.01% of yield. For example, a bond''s yield that changed from 12.72% to 12.52% has moved 20 basis points.Bearer stock不 記 名 股 票 ， 無 記 名 股 票 Stock certificates that aren''t registered in any name. They are negotiable without endorsement by any person.Bear market熊 市 ， 跌 市 ， 淡 市 When security prices decline 15% or more.Bellwether bond牽 頭 羊 債 券 For the U.S. market, it is the 30-year Treasury bond most recently offered by the government. Its performance is a benchmark for evaluating the bond market in general. Also called the long bond
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Beneficiary受 益 人 ， 受 款 人 A person you name in your will, life insurance policy, retirement plan, or other financial arrangement to receive a benefit at your death.Beta coefficient貝 他 係 數 ， 啤 打 係 數 An estimate of an investment''s volatility. The lower the beta, the less risky the investment.量 度 股 票 系 統 性 風 險 的 指 數 。Bid買 方 叫 價 ， 買 入 價 ， 投 標 The price that someone is willing to pay for a security or an asset. In the stock market, the bid portion of a stock quote is the highest price anyone is willing to pay for a security at that time.Big Board紐 約 證 券 交 易 所 Another name for the New York Stock Exchange.Bill of exchange匯 票 A signed, written order by one business that instructs another business to pay a third business a specific amount. Also called a draft.Block trade大 宗 股 票 交 易 Buying or selling 10,000 shares of stock or $200,000 or more worth of bonds.Blue-chip stocks藍 籌 股 ， 優 良 股 票 Stocks of companies known for their long-established record of earning profits and paying dividends.恆 生 指 數 成 分 股 ， 這 股 份 普 遍 特 性 是 流 通 量 高 、 財 政 和 盈 利 狀 況 穩 健 ， 以 及 派 息 固 定 。Bodily injury liability coverage身 體 受 傷 責 任 保 額 As part of an auto policy, the liability insurance that pays if someone is hurt or killed in an accident that is your fault.Bond債 券 ， 公 債 ， 保 證 書 A debt instrument that pays a set amount of interest on a regular basis. The issuer promises to repay the debt on time and in full. Bonds are bought and sold on the market.由 政 府 或 企 業 簽 發 ， 表 示 其 以 固 定 息 率 向 貸 方 借 取 長 期 資 金 的 買 債 證 明 書 。 文 件 上 借 方 承 諾 按 期 付 息 還 本 。Bond rating債 券 評 定 ， 債 券 評 級 An assessment of the likelihood that investors will receive the promised interest and principal payments on time. Bond ratings are assigned by independent agencies, such as Moody''s Investors Service and Standard & Poor''s.Book value帳 面 價 值 The difference between a company''s assets and its liabilities, usually expressed in per-share terms. It takes into account all money invested in the company since its founding, as well as retained earnings. It is calculated by subtracting liabilities from assets and dividing the result by the number of shares outstanding. Comparing book value to share price is one way to gauge if a company''s stock is undervalued or overvalued
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Bottom fisher最 低 價 漁 利 者 People who buy stocks when prices have bottomed out or fallen to low levels.Bottom line年 終 盈 虧 Accounting term for the net profit or loss.Broker經 紀 商 ， 代 理 人 A person who gives advice and handles orders to buy or sell stocks, bonds, commodities and options.Brokerage firm經 紀 行 ， 經 紀 人 公 司 When you buy or sell a security, you generally do so through a brokerage firm. Brokerage firms fall into two main camps, full-service brokers and discount brokers. Discount brokers charge far lower commissions than full service brokers, and a growing number of deep discounters charge especially low commissions. But there is a trade-off. If you use a discount broker, you will get little or no investment advice, so you must be willing to make your own buy and sell decisions. A full-service broker, on the other hand, will help you pick investments and devise a financial plan.Bull market牛 市 ， 升 市 ， 旺 市 ， 多 頭 市 場 A time period when security prices increase.Call催 繳 ， 催 繳 通 知 書 ， 提 早 贖 回 權 ， 看 漲 期 權 The issuer''s right to redeem a bond or preferred share before it matures.Callable bond可 贖 回 債 券 ， 可 提 早 贖 回 權 A bond that can be redeemed by the issuer before it matures.Call option買 入 期 權 ， 認 購 期 權 An agreement that gives an investor the right but not the obligation to buy a stock, bond, commodity or other instrument at a specified price within a specific time period.Capital assets資 本 財 ， 資 本 資 產 An asset held for more than a year that isn''t bought or sold in the normal course of business. Capital assets generally include fixed assets, such as land, buildings, equipment and furniture.Capital gain資 本 增 益 ， 資 本 增 值 The difference between the purchase price and the sale price of an asset when the asset was sold for more than it was bought.Capital loss資 本 損 失 ， 資 本 減 值 The difference between the purchase price and the sale price of an asset when the asset was sold for less than it was bought.Cash flow現 金 流 量 ， 現 金 週 轉 Net income after depreciation and other non-cash charges are subtracted.Cash market現 金 市 場 ， 現 貨 市 場 The trading of securities according to their current -- or spot -- price. That is in contrast to trading in a security for future delivery.
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Cash value現 金 價 值 ， 現 值 Insurance coverage that incorporates a tax-deferred savings component in addition to providing a certain death benefit. Types include whole life, universal life, and variable life.Certified financial planner (CFP)合 格 金 融 規 劃 員 The best-known financial planning designation, given to qualifying planners by the CFP Board of Standards, Denver.Charitable lead trust導 向 型 慈 善 信 託 A trust that pays a charity income from a donated asset for a set number of years, after which time the principal goes to the donor''s beneficiaries with reduced estate or gift taxes.Charitable remainder trust剩 餘 財 產 慈 善 信 託 This trust lets people leave assets to a favored charity and receive a tax break but still retain income for life. This works best for people with a large appreciated asset, which, if sold, would generate large capital-gains taxes.Chartered life underwriter (CLU) 美 特 許 人 壽 保 險 承 保 人 A professional designation given to qualifying life insurance agents by the American College, Bryn Mawr, Pennsylvania.Churning揩 油 交 易 ， 反 覆 買 賣 文 交 易 A securities law violation. Refers to excessive trading in a customer''s brokerage account, done to generate increased commission income. In the stock market, it refers to a period of heavy trading activity but few sustained price trends and little overall movement in stock market indexes.Closed-end mutual fund封 閉 型 共 同 基 金 A type of fund that issues a set number of shares and typically trades on a stock exchange.Closing costs轉 移 費 用 ， 交 割 成 本 A variety of costs paid in conjunction with purchasing a home or taking on a new mortgage. Closing costs often include points, which typically are a form of additional interest. Other closing costs may include property taxes, title insurance, transfer tax, and attorneys'' fees.Closing prices收 市 價 ， 收 盤 價 The last trading price of a stock when the market closes.Collateral抵 押 品 Stock or other property that borrowers are obliged to turn over to lenders if they are unable to repay a loan.Collateralized mortgage obligations抵 押 保 證 證 券 Mortgage-backed securities that are carved into an array of bonds of varying maturity, coupon and risk. Abbreviated as CMO
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Commercial bank商 業 銀 行 A bank owned by shareholders that accepts deposits, makes commercial and industrial loans, and provides other banking services for the public. Also called a full-service bank.Commercial paper商 業 票 據 Unsecured short-term promissory notes used by companies to obtain cash. They are sold through dealers in the open market or directly to investors.Commodities商 品 Bulk goods such as grains, metals, livestock, oil, cotton, coffee, sugar and cocoa. They can either be sold on the spot market for immediate delivery or on the commodities exchanges for later delivery. Trade on the exchanges is in the form of futures contracts.Common stock普 通 股 Represents part ownership of a company. Holders of common stock have voting rights but no guarantee of dividend payments.Community property共 有 財 產 Property and income that is accumulated by a husband or wife, or jointly as a couple, during a marriage; as a consequence, they are owned in common by both.Compounding複 利 計 算 Financial advisors love to talk about the magic of compounding. What magic? If your investments make 10% a year for five years, you earn not 50% but 61.1%. Here is the reason: as time goes on, you make money not only on your original investment but also on your accumulated gains from earlier years.Comprehensive coverage綜 合 保 險 保 額 The part of an auto insurance policy that pays if your car is stolen or vandalized or otherwise damaged by something other than a collision.Comptroller of the Currency 美 貨 幣 監 理 專 員A Treasury Department official, appointed by the president and confirmed by the Senate, who is responsible for chartering, examining, supervising and liquidating national banks.Consumer credit消 費 信 貸 ， 消 費 信 用 Money loaned to individuals, usually on an unsecured basis, requiring monthly repayment. Bank loans, credit cards and installment credit are examples of consumer credit.Consumer price index消 費 物 價 指 數 A gauge of inflation that measures changes in the prices of consumer goods. The index is based on a list of specific goods and services purchased in urban areas. It is released monthly by the Labor Department. Abbreviated as CPI.Convertible bond可 轉 換 公 司 債 券 A bond that investors may exchange for stock on some future date under certain conditions.附 有 換 股 權 利 的 債 券 。 持 有 人 可 在 指 定 的 情 況 下 ( 如 有 效 期 、 換 股 價 格 及 比 率 ) ， 將 債 券 換 成 借 款 上 市 公 司 的 股 票
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Corporate bond公 司 債 券 Bond issued by corporations.Corporation公 司 ， 股 份 有 限 公 司 ， 法 人 團 體 A business entity treated as a person in the eyes of the law. It is able to own property, incur debts, sue, and be sued.Correction股 份 調 整 ， 回 落 A reverse movement, usually downward, in the price of an individual stock, bond, commodity, index, or the stock market as a whole.Cost basis成 本 列 帳 制 ， 成 本 基 礎 制 In accounting, the valuation of an asset that includes the cost of the asset and factors in items like depreciation, capital gains and dividends.Cost of living生 活 費 用 The level of prices of goods and services required for a reasonable standard of living.Cost-push inflation成 本 通 脹 ， 成 本 推 動 的 通 貨 膨 脹 A sustained rise in prices caused by businesses passing on increases in costs, especially labor costs, to purchasers.Council of economic advisers經 濟 顧 問 委 員 會 Presidential advisers who recommend economic measures and help prepare an annual economic report to Congress.Coupon息 票 ， 票 面 息 率 The interest rate specified on a bond when it is originally issued.Credit rating信 用 評 級 Formal evaluation of a government body''s or company''s credit history and ability to repay its debts.Cumulative voting累 積 投 票 A method of voting for corporate directors. Each share has as many votes as there are directors to be elected, and the holder may distribute these votes as he wishes.Currency通 貨 ， 貨 幣 ， 外 匯 Money that circulates in an economy. Also refers to a country''s official unit of exchange.Current account balance往 來 帳 戶 結 存 One of the components of a country''s balance of payments, The current account balance covers the imports and exports of goods and services.Current ratio流 動 比 率 A measure of a company''s liquidity, or its ability to pay its short-term debts. Calculated by dividing current assets by current liabilities.Current yield現 時 收 益 率 A measure of an investor''s return on a bond. Calculated by dividing the coupon rate by the purchase price, then multiplying by $1,000. Cusip number 美 庫 西 普 號 碼 An identification number for securities. Cusip is an acronym for Committee on Uniform Securities Identifying Procedures.Cyclical stock敏 感 性 股 票 Shares that tend to rise during an upturn in the economy and fall during a downturn.Day order即 日 指 示 An investor''s order to buy or sell stock that will be canceled by the end of the day if not filled.Debenture公 司 債 券 A certificate issued by a corporation that states the amount of a loan, the interest to be paid and the time for repayment. It is backed only by the corporation''s reputation and good word, not by collateral.Debt債 務 ， 欠 款 Securities such as bonds, notes, mortgages and other forms of paper that indicate the intent to repay an amount owed.Deductible可 扣 除 的 ， 可 減 額 Under an insurance policy, the amount of loss or expense that you must shoulder yourself before the insurance company begins paying.Default遧 約 ， 不 履 行 責 任 Failure to pay principal or interest on a financial obligation. It can also refer to a breach or nonperformance of the terms of a debt instrument.Defensive securities價 格 波 動 較 少 的 證 券 Stocks with investment returns that do not tend to decline as much as the market in general in times when stock prices are falling. Those include companies with earnings that tend to grow despite the business cycle, such as food and drug firms, or companies that pay relatively high dividends like utilities. Defined-benefit pension plan 美 固 定 養 老 金 受 益 計 劃 A traditional pension plan, which pays retirees a fixed monthly check based on their age, salary, and length of service.Deflation通 貨 緊 縮 A decline in the general price level of goods and services that results in increased purchasing power of money. The opposite of inflation.Delta得 爾 塔 係 數 A measure of the relationship between an option price and its underlying futures contract or stock price.衡 量 期 權 價 格 與 相 應 期 貨 合 同 價 格 關 係 的 係 數Demand-pull inflation需 求 通 脹 A general increase in prices that occurs when demand exceeds supply.Depreciation折 舊 ， 貶 值 A decline in value. In accounting, a reduction of earnings to write off the cost of an asset over its estimated useful life.Ddepression經 濟 蕭 條 ， 不 景 氣 A severe downturn in an economy that is marked by falling prices, reduced purchasing power, and high unemployment.Devaluation貶 值 ， 通 貨 貶 值 The government''s reduction of the value of its currency in relation to the currency of other counties. When a nation devalues its currency, the goods it imports become more expensive, while its exports become less expensive abroad and thus more competitive.Dip微 軟 A slight decline in securities prices followed by a rise.Disability insurance傷 殘 保 險 Insurance that can replace part of your income if illness or injury leaves you unable to work for an extended period.
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Cusip number 美 庫 西 普 號 碼 An identification number for securities. Cusip is an acronym for Committee on Uniform Securities Identifying Procedures.Cyclical stock敏 感 性 股 票 Shares that tend to rise during an upturn in the economy and fall during a downturn.Day order即 日 指 示 An investor''s order to buy or sell stock that will be canceled by the end of the day if not filled.Debenture公 司 債 券 A certificate issued by a corporation that states the amount of a loan, the interest to be paid and the time for repayment. It is backed only by the corporation''s reputation and good word, not by collateral.Debt債 務 ， 欠 款 Securities such as bonds, notes, mortgages and other forms of paper that indicate the intent to repay an amount owed.Deductible可 扣 除 的 ， 可 減 額 Under an insurance policy, the amount of loss or expense that you must shoulder yourself before the insurance company begins paying.Default遧 約 ， 不 履 行 責 任 Failure to pay principal or interest on a financial obligation. It can also refer to a breach or nonperformance of the terms of a debt instrument.Defensive securities價 格 波 動 較 少 的 證 券 Stocks with investment returns that do not tend to decline as much as the market in general in times when stock prices are falling. Those include companies with earnings that tend to grow despite the business cycle, such as food and drug firms, or companies that pay relatively high dividends like utilities. Defined-benefit pension plan 美 固 定 養 老 金 受 益 計 劃 A traditional pension plan, which pays retirees a fixed monthly check based on their age, salary, and length of service.Deflation通 貨 緊 縮 A decline in the general price level of goods and services that results in increased purchasing power of money. The opposite of inflation.Delta得 爾 塔 係 數 A measure of the relationship between an option price and its underlying futures contract or stock price.衡 量 期 權 價 格 與 相 應 期 貨 合 同 價 格 關 係 的 係 數Demand-pull inflation需 求 通 脹 A general increase in prices that occurs when demand exceeds supply.Depreciation折 舊 ， 貶 值 A decline in value. In accounting, a reduction of earnings to write off the cost of an asset over its estimated useful life.Ddepression經 濟 蕭 條 ， 不 景 氣 A severe downturn in an economy that is marked by falling prices, reduced purchasing power, and high unemployment.Devaluation貶 值 ， 通 貨 貶 值 The government''s reduction of the value of its currency in relation to the currency of other counties. When a nation devalues its currency, the goods it imports become more expensive, while its exports become less expensive abroad and thus more competitive.Dip微 軟 A slight decline in securities prices followed by a rise.Disability insurance傷 殘 保 險 Insurance that can replace part of your income if illness or injury leaves you unable to work for an extended period.Discount折 扣 ， 貼 現 In general, the amount by which one security price is less than another. In financing, it is the interest withheld when a note, draft, or bill is purchased.Discount broker貼 現 經 紀 Broker who charges lower commissions than full-service brokers. Investors often give up the benefits of stock-picking advice, updates on news affecting their investments and research services normally provided by full-service brokers.Discount rate折 扣 率 ， 貼 現 率 The interest rate charged by the Federal Reserve on loans to banks and other financial institutions. This rate influences the rates these financial institutions then charge to their customers.Disinflation反 通 貨 膨 脹 ， 通 貨 緊 縮 A slowdown in the rate of price increases. Disinflation occurs during a recession, when sales drop and retailers are unable to pass higher prices along to consumers.Disintermediation減 少 居 中 融 資 功 能 ， 減 少 媒 介 作 用 The movement of funds from low-yielding accounts like savings accounts into higher yielding investments like debt securities.Disposable income可 支 配 收 入 ， 稅 後 所 得 The income that a person retains after taxes. Disposable income can be saved or used to purchase goods and services.Diversification多 元 化 ， 多 樣 化 When you diversify, you spread your money among a slew of different securities, thereby avoiding the risk that your portfolio will be badly bloodied because a single security or a particular market sector turns sour.Dividend股 息 ， 紅 利 A portion of a company''s income paid to shareholders as a return on their investment.上 市 公 司 分 派 給 股 東 的 不 固 定 利 潤 ， 可 以 用 現 金 、 股 份 、 認 股 證 等 式 派 送 。Dividend Payout Ratio派 息 比 率 每 股 派 息 與 每 股 盈 利 間 的 比 例 。Dividend yield股 息 率 ， 股 息 收 益 A company''s annual dividend expressed as a percentage of its current stock price.一 年 的 總 派 息 額 與 當 時 市 價 的 比 例 。Dollar-cost averaging 美 成 本 平 均 法 A strategy to invest fixed amounts of money in securities at regular intervals, regardless of the markets'' movements
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Dow Jones average杜 瓊 斯 平 均 指 數 There are four Dow Jones averages that track price changes in various sectors. The Dow Jones Industrial Average tracks the price changes of the stock of 30 industrial companies. The Dow Jones Transportation Average monitors the price changes of the stocks of 20 airlines, railroads and trucking companies. The Dow Jones Utility Average measures the performance of the stock of 15 gas, electric and power companies. The Dow Jones 65 Composite Average monitors the stock of all 65 companies that make up the other three averages.Dow Jones industrial average杜 瓊 斯 工 業 平 均 指 數 Often referred to as the Dow, it is the best known and most widely reported indicator of the stock market''s performance. The Dow tracks the price changes of 30 significant industrial stocks traded on the New York Stock Exchange. Their combined market value is equal to roughly 20% of the market value of all stocks listed on the New York Stock Exchange. Abbreviated as DJIA.Down tick價 位 向 下 調 整 A sale of a listed security that occurs at a lower price than the previous transaction.Draft匯 票 ， 銀 行 匯 票 A signed, written order by one party that instructs another party to pay a third party a specific amount. It also may be called a bill of exchange.Duration期 間 ， 期 限 A calculation measuring the expected life of a fixed-income security. It estimates the time required to collect a fixed-income security''s payments of the principal and interest.Dutch auction荷 蘭 式 拍 賣 ， 跌 價 拍 賣 A procedure for buying and selling securities named for a system used for flower auctions in Holland. A seller seeks bids within a specified price range, usually for a large block of stock or bonds. After evaluating the range of bid prices received, the seller accepts the lowest price that will allow it to dispose of the entire block. Earnings收 益 ， 盈 利 Income after a company''s taxes and all other expenses have been paid. Also called profit or net income.Earnings Per Share (EPS)每 股 盈 利 A portion of the company''s earnings allocated to each share outstanding. Calculated by dividing the number of outstanding shares into earnings.將 公 司 除 稅 後 的 可 分 配 盈 利 除 以 已 發 行 的 股 數 ， 所 得 的 盈 利 數 目 。Earnings yield收 益 率 ， 盈 利 率 A company''s per-share earnings expressed as a percentage of its stock price. This provides a yardstick for comparing stocks with bonds, as well as with other stocks.Economic indicator經 濟 指 標 Key statistics used to analyze business conditions and make forecasts.Employee Stock Ownership Plan員 工 持 股 計 劃 A program encouraging employees to buy stock in their company and thereby have a greater stake in its financial performance. Abbreviated as ESOP.Endorsement背 書 In some forms of insurance, a provision added to a policy to add to or alter the coverage.Entitlement權 利 Government benefits such as Social Security and Medicare that must be paid to anyone meeting specific eligibility requirements. Equity股 東 權 益 In property, it is the difference between the property''s current market value and the claims against the property. In securities markets, it is the part of a company''s net worth that belongs to shareholders.Escalator clause滑 動 條 款 ， 伸 價 條 款 A clause in a contract providing for increases in costs such as labor expenses and materials.Estate tax 美 遺 產 稅 Taxes levied by the federal and state governments on the transfer of your assets after you die. Uncle Sam levies estate taxes on the worldwide assets of both U.S. citizens and U.S. residents.Eurobond Bonds issued by a borrower outside its own country. The bonds are denominated in a currency foreign to the borrower or the purchaser or both.Eurocurrency歐 洲 貨 幣 A deposit in a bank outside the depositor''s country of origin. Most deposits are U.S. dollar deposits, although nearly all major Western currencies are represented.Eurodollar歐 洲 美 元 Dollar-denominated deposits in banks outside the U.S.Eurodollar loan歐 洲 美 元 貸 款 Loans of dollar-denominated deposits in banks outside the U.S. and of other deposits in banks outside the depositor''s country of origin.Euromarket歐 洲 共 同 市 場 A general term for the Eurobond and Euroloan markets.European Currency Unit歐 洲 貨 幣 單 位 A monetary unit created in 1979 by nine European nations to promote currency stability in the European Union. The European Currency Unit consists of weighted amounts of the national currencies of members of the European Monetary System. The value of the European Currency Unit in relation to other currencies is published daily in newspapers. Also called the ECU.European Monetary System歐 洲 貨 幣 體 系 An exchange-rate system adopted by European Union members in an effort to move toward a unified European currency.European option歐 式 期 權 An option that may be exercised only on its expiration date.Excercise Price行 使 價 認 股 證 、 期 權 等 認 購 正 股 或 行 使 權 利 的 價 格 。Exchange交 易 ， 匯 率 A centralized place for trading securities and commodities, usually involving an auction process.Ex-dividend除 股 息 A period of time immediately before a dividend is paid, during which new investors in the stock are not entitled to receive the dividend. A stock''s price is revised lower to reflect the dividend value on the first day of this period. On that day, a stock is said to "go ex-dividend."
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Executor遺 囑 執 行 人 The person named in your will to handle the settlement of your estate.Expense ratio費 用 比 率 This figure tells you how much a mutual fund charges each year as a percentage of total fund assets. A fund with a 1.55% expense ratio, for instance, levies $1.55 for every $100 it has under management. Included in this figure are the fund''s management fee, shareholder servicing costs, and any annual 12b-1 fee. A 12b-1 fee, which is named after the applicable Securities and Exchange Commission regulation, is levied to pay for the cost of attracting new investors to the fund. The fee may be used to buy advertising or to compensate brokers who sell the fund. Expiration date: The date after which an option may no longer be exercised.Exports出 口 貨 品 ， 輸 出 品 Goods and services one country produces and sells to others.Extraordinary Item非 經 常 性 項 目 ， 特 殊 帳 項 Expenses or sources of revenue that do not occur on a regular basis, such as a loss due to a fire or the revenue from the sale of a subsidiary.在 公 司 年 報 中 ， 非 由 公 司 日 常 營 運 業 務 所 產 生 的 收 益 或 虧 損 項 目 。Face value面 值 ， 票 面 價 值 The monetary value of a bond printed its face. Face value and market value often differ.Factor代 理 人 ， 客 帳 經 紀 商 Company that buys accounts receivable, which is debt for merchandise or services bought on credit. Factors assume the job of collecting the money due.Farm Credit System 美 農 業 信 貸 制 度 The government-sponsored enterprise that finances farm loans by selling bonds and notes.Federal deficit 美 聯 邦 赤 字 The amount of money the federal government owes because it spent more than it received in revenue for the past year.Federal Funds Rate 美 聯 邦 基 金 利 率 The interest rate banks charge on overnight loans to banks that need more cash to meet bank reserve requirements. The Federal Reserve sets the interest rate.美 國 銀 行 同 業 間 的 借 貸 利 率 ， 是 美 國 短 期 利 率 走 勢 的 最 佳 指 標 。Federal Home Loan Bank System 美 聯 邦 住 宅 貸 款 銀 行 系 統 A network of regional Federal Home Loan Banks that provides loans to savings banks, savings and loans and other institutions that are important providers of mortgage loans.Fiscal year財 政 年 度 ， 會 計 年 度 The 12-month period that a corporation or government uses for bookkeeping purposes.Float浮 數 ， 在 途 款 項 ， 掛 牌 In securities, the number of outstanding shares in a corporation available for trading by the public. Also, the time between the deposit of a check in a bank and the check''s payment.Floater浮 動 保 單 An insurance policy that covers specific items of personal property, such as jewelry.Force majeure不 可 抗 力 A condition that permits a company to depart from the strict terms of a contract because of an event or effect that can''t be reasonably anticipated or controlled.Foreign exchange外 匯 ， 國 際 匯 兌 Money instruments used to make payments between countries.Foreign exchange market外 匯 市 場 Market in which foreign currencies are bought and sold and exchange rates between currencies are determined.Forward exchange rate外 匯 率 ， 匯 率 A currency exchange contract that traders have agreed upon for a future date. The forward rate is usually for one, two, three or six months and referred to as 30-day forward, 60-day forward, etc.Full-service broker綜 合 服 務 經 紀 商 Broker who executes, buys and sells orders, research investments, helps investors develop and meet investment goals and gives advice to investors. Brokers charge commissions for their work.Fundamental analysis基 本 因 素 分 析 法 ， 基 礎 分 析 Analysis technique that looks at a company''s financial condition, management, and place in its industry to predict a company''s stock price movement.Futures期 貨 ， 期 貨 合 約 An agreement to purchase or sell a given quantity of a commodity, security, or currency at a specified date in the future. Also called a futures contract.具 有 法 律 效 力 的 協 議 書 ， 訂 明 合 約 雙 方 承 諾 於 未 來 某 指 定 時 間 內 ， 以 一 既 定 價 格 來 交 收 某 類 既 定 質 量 的 商 品 或 金 融 票 據 。 Generally accepted accounting principles共 認 會 計 原 則 Guidelines that explain what should be done in specific accounting situations as determined by the Financial Accounting Standards Board.General obligation bond一 般 責 任 公 債 A government bond that is approved either by the voters or their legislature. The government''s promise to repay the principal and pay the interest is constitutionally guaranteed, based on its ability to tax the population. Also called a full-faith-and-credit bond.Gift tax贈 與 稅 Federal taxes owed on gifts if they exceed both the annual limit of $10,000 per recipient and the $600,000 lifetime unified credit.Gold standard黃 金 本 位 ， 金 本 位 制 A monetary system based on gold. The basic currency unit of a country is pegged to a specified amount of gold.Goods財 產 ， 商 品 Physical, tangible products.Goodwill商 譽 ， 信 譽 In accounting, goodwill is any advantage, such as a well-regarded brand name or symbol, that enables a business to earn better profits than its competitors. If such assets are sold for less than book value, the difference is negative goodwill.
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Great Depression 美 經 濟 大 蕭 條 The world-wide economic hard times generally regarded as having begun with the stock market collapse of Oct. 28-29, 1929 and continued through most of the 1930s.Greenmail反 購 回 A payment made to a potential suitor to avoid a takeover attempt.Gross Domestic Product (GDP)本 地 生 產 總 值 The total value of goods and services produced by a nation. In the U.S. it is calculated by the Commerce Department, and it is the main measure of U.S. economic output.一 個 國 家 境 內 的 商 品 和 勞 務 的 市 價 總 值 ； 是 量 度 國 家 經 濟 增 長 的 主 要 指 標 。Gross National Product (GNP)國 民 生 產 總 值 The dollar value of all goods and services produced in a nation''s economy. Unlike gross domestic product, it includes goods and services produced abroad.一個國家國民所擁的商品和勞務的市價總值；是Group of Seven七 大 工 業 國 An organization of the seven major industrialized nations. The countries'' leaders meet annually to discuss their approaches to monetary and fiscal issues in an effort to foster a stable world economy. The countries are the U.S., Canada, Britain, France, Italy, Germany and Japan. Abbreviated as G-7.Growth fund發 展 基 金 A mutual fund that invests in the common stock of well-established companies. The aim of a growth fund is to buy stocks whose share price will increase over time.Guardian監 護 人 The person designated responsible for minor children or others needing special care.H-Share國 企 股 經 中 國 證 監 會 審 批 後 ， 來 香 港 上 市 的 國 有 企 業 所 發 行 的 股 票 。Hang Seng Index恆 指 ， 恆 生 指 數 Index of leading Hong Kong stocks.Hedge fund對 沖 交 易 基 金 ， 合 夥 投 資 基 金 Little-regulated private investment partnerships for large investors. They wager huge sums in global currency, bond and stock markets.Hedging對 沖 ， 套 戥 Buying or selling a product or a security to offset a possible loss from price changes on a future corresponding purchase or sale.利 用 期 貨 或 期 權 來 避 免 或 減 少 現 貨 市 場 所 承 受 的 價 格 波 動 風 險 。Holding company控 股 公 司 ， 股 權 公 司 A company whose principal assets are the securities it owns in companies that actually provide goods or services. A holding company enables one corporation and its directors to control several companies by holding a large stake in the companies.Housing starts樓 宇 動 工 量 The Commerce Department''s monthly survey of the number of housing permits issued by local government authorities.westbank 钻石会员 山西 发表总数：738 发表於 - 2003/08/31 : 16:25:48 --------------------------------------------------------------------------------Imports進 口 商 品 Goods and services one country purchases from another country.Income fund收 益 基 金 A mutual fund that seeks a high level of current income by investing in income producing securities, including both stocks and bonds.Index fund指 數 基 金 A mutual fund th!t seeks to produce the same return that investors would get if they owned all the stocks in a particular stock index, often the Standard and Poor''s 500-stock index.Index option指 數 期 權 An agreement that gives an investor the right but not the obligation to buy or sell the basket of stocks represented by a stock-market index at a specific price on or before a specific date. Index options allow investors to trade in a particular market or industry group without having to buy all the stocks individually.Indexing指 數 化 Buying and holding a mix of stocks that match the performance of a broad stock-market barometer such as the Standard & Poor''s 500 stock index.Individual retirement account 美 個 人 退 休 金 帳 戶 A tax-deferred plan that can help you build a retirement nest egg. Individuals whose income is less than certain amounts or who are not active participants in an employer''s retirement plan generally can deduct some or all of their annual IRA contributions when figuring their income tax. others can take nondeductible IRA contributions.Industrial production工 業 生 產 Monthly report by the Federal Reserve that measures output at factories, utilities and mines.Inflation通 貨 膨 脹 A sustained rise in prices in an economy.Infrastructure基 本 建 設 A nation''s basic transportation, communications, power and sewage systems that are necessary for its economy to operate.Initial Public Offering (IPO)首 次 公 開 發 售 The first time a company issues stock to the public. This process often is called "going public."公 司 首 次 推 出 股 份 供 公 眾 人 士 認 購 。Insider內 幕 人 士 A person, such as an executive or director, who has information about a company before the information is available to the public.Insider trading內 幕 交 易 In one respect, it refers to the legal trading of securities by corporate officers based on information available to the public. In another respect, it refers to the illegal trading of securities by any investor based on information not available to the public.Interbank Offer swap利 率 調 期 ， 利 率 掉 換 A derivative in which one party agrees to pay a fixed interest rate in return for receiving a floating interest rate from another party.Interest rate swap利 率 調 期 ， 利 率 掉 換 A derivative in which one party agrees to pay a fixed interest rate in return for receiving a floating interest rate from another party.Internal rate of return內 部 報 酬 率 An accounting term for the rate of return on an asset. It is the discount rate on an investment that equates the present value of its cash outflows to the present value of its cash inflows.International Monetary Fund國 際 貨 幣 基 金 An organization that makes loans and provides other services intended to stabilize world currencies and promote orderly and balanced trade. Member nations may obtain foreign currency when needed, making it possible to make adjustments in their balance of payments without currency depreciation. Abbreviated as IMF.
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Internet國 際 電 腦 網 絡 The global computer network that connects independent networks.In the money己 到 價 ， 有 利 價 A term used to describe an option that is worth something if exercised immediately. In the case of a call option, it means the current price is higher than the strike price. In the case of a put option, it means the current price is below the strike price.Investment bank投 資 銀 行 ， 證 券 包 銷 商 A securities firm, financial company or brokerage house that helps companies take new issues to market. Additionally, an investment bank handles the sales of large blocks of previously issued securities and private placements. Most investment banks also maintain brokerage operations and other financial services.Investment grade投 資 級 別 An assessment of a debt issue by a credit-rating firm that indicates investors are expected to receive principal and interest payments in full and on time.Itemized deduction分 列 課 稅 減 免 項 目 When you figure your income tax, these are the items that may be subtracted from your adjusted gross income if you do not take the standard deduction. Examples of itemized deductions include state and local tax payments, gifts to charity, and certain amounts of home-mortgage interest. Junior security次 級 證 券 ， 非 優 先 證 券 A security that has lower priority in claims on assets and income than other securities.Junk bonds垃 圾 債 券 ， 次 級 債 券 High-yield bonds that credit-rating agencies consider speculative. The bonds typically offer higher yields and carry higher risk than bonds with investment-grade ratings.Lagging indicators落 後 經 濟 指 標 A composite of seven economic measurements that tend to trail developments in the economy as a whole. It is compiled by the Conference Board. Those indicators are duration of unemployment, ratio of inventories to sales, index of labor costs per unit of output, average prime rate, outstanding commercial and industrial loans, ratio of outstanding consumer installment credit to personal income and consumer price index for services.Leading indicators領 先 經 濟 指 標 A composite of 11 economic measurements developed to help forecast likely changes in the economy as a whole. It is compiled by the Conference Board. The components are: average work week, unemployment claims, orders for consumer goods, slower deliveries, plant and equipment orders; building permits, durable order backlog, materials prices, stock prices, M2 money supply and consumer expectations.Letter of credit信 用 證 ， 信 用 狀 A bank''s promise that a shipment of goods will be paid for on arrival. It''s used mostly in foreign trade but also is used domestically to guarantee payment of securities.Leverage 美 槓 桿 作 用 ， 負 債 與 資 本 的 比 率 The use of borrowed assets by a business to enhance the return to the owner''s equity. The expectation is that the interest rate charged will be lower than the earnings made on the money. In securities markets, leverage refers to money borrowed to cover part of the cost of a purchase.Leveraged buyout槓 桿 式 收 購 ， 借 貸 收 購 The purchase of a company by a small group of investors financed largely by debt, often in the form of junk bonds.Liabilities負 債 ， 債 務 The claims against a corporation or other entity. They include accounts payable, wages and salaries, dividends, taxes and obligations such as bonds, debentures and bank loans.Liability insurance責 任 保 險 Insurance that pays if you are sued or legally responsible for a loss. Liability coverage, which also covers legal-defense costs, is typically included in auto and home insurance policiesLife insurance trust人 壽 保 險 信 託 A trust set up to buy life insurance coverage or to become the owner of an existing policy. When a policy is owned by a trust, the death benefit is not counted as part of the insured person''s estate for estate-tax purposes.Limit order限 價 訂 單 ， 限 價 盤 An order to buy or sell a stock when it reaches a certain price.Liquidation清 盤 ， 變 現 ， 平 倉 The process of converting stock or other assets into cash. When a company is liquidated, the cash obtained is first used to pay debts and obligations to holders of bonds and preferred stock. Whatever cash remains is distributed on a per-share basis to the holders of common stock.Liquidity流 動 性 ， 變 現 性 ， 變 現 能 力 ， 清 償 能 力 ， 流 動 資 金 The ease of converting an asset to cash.Living trust生 前 信 託 a revocable trust formed while you are alive, it is often used to avoid probate or to provide for the orderly management of assets if you should become disabled or incompetent.Load附 加 費 用 ， 手 續 費 Sales charges on mutual funds and mutual-fund trading.Load funds附 佣 基 金 Mutual funds that charge a sales commission, as opposed to no-load funds, which do not levy a fee when you buy or sell. Some fund groups that sell directly to the public offer low-load funds, which charge an upfront fee of 2% or 3%, but most load funds are sold by brokers. To compensate brokers, load funds usually charge either a front-end sales commission when you buy the fund or a back-end sales commission when you sell. In addition, many broker-sold funds charge an annual 12b-1 fee, which is also used to compensate brokers. The 12b-1 fee is included in the fund''s expense ratio.Loan syndication貸 款 財 團 A process in which banks resell portions of large loans to other banks.Loan-to-value ratio擔 保 品 貸 放 率 The ratio of the principal balance of a home loan to the estimated market value. A $100,000 home with a $75,000 mortgage, for example, has a loan-to-value ratio of 75%. Few lenders will make a loan for the full value of a home; most have a maximum loan-to-value ratio of 75% to 90%.Lombard rate 德 林 巴 利 率 In Germany, the interest rate charged by the central bank to other financial institutions. The Lombard rate is closely watched by the credit markets because it serves as a ceiling for short-term money-market rates.Long bond長 期 債 券 Slang for a 30-year bond issued by the U.S. Treasury. It is considered a key indicator, or benchmark, of trends in long-term interest rates.Long-term bond長 期 債 券 Bond with maturities of more than 10 years.Margin毛 利 ， 息 差 ， 保 證 金 ， 孖 展 ， 差 額 In the stock market, the amount of cash that must be put up in a purchase of securities. If the margin requirement is 50%, the buyer must put up 50% of the purchase price; the buyer must borrow the rest.Margin account保 證 金 帳 戶 ， 孖 展 戶 口 ， 按 倉 客 戶 A brokerage account allowing customers to buy securities with money borrowed from the brokerage.Marginal tax rate邊 際 稅 率 The tax rate you would owe on your next dollar of taxable income. This can be highly valuable information when you are making investment decisions.Market capitalization市 場 總 值 ， 資 本 市 值 The total market value of a company or stock. Market capitalization is calculated by multiplying the number of shares by the current market price of the shares.Market maker市 場 製 造 者 In a stock market, a trader responsible for maintaining an orderly market in an individual stock by standing ready to buy or sell shares. On a stock exchange, a market maker is known as a specialist.Market timing市 場 時 間 選 擇 Shifting money in and out of investment markets in an effort to take advantage of rising prices and avoid being stung by downturns. Few, if any, investors manage to be consistently successful in timing markets.Maturity date到 期 日 When a bond expires and the loan must be paid back in full.Merchant banking 英 商 人 銀 行 業 務 A form of banking where the bank arranges credit financing, but does not hold loans until maturity. A merchant bank invests its own capital in leveraged buyouts, corporate acquisitions and other structured finance transactions. It is a fee-based business, in which the bank assumes market risk but no long-term credit risk.Merger合 併 ， 吸 收 合 併 The formation of one company from two or more previously existing companies through pooling of common stock, cash payment or a combination of both.
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Monetary aggregate貨 幣 流 通 總 額 ， 綜 合 貨 幣 數 字 Measures of a country''s money supply. M1 consists of funds that are readily available for spending, including cash and checking accounts that pay interest and those that don''t , and currency. M2 consists of M1 and all savings or short-term deposits. It also includes certain short-term assets such as the amounts held in money-market mutual funds. M3 is the total of M1 and M2 as well as the assets and liabilities of banks. Also called money-supply measures.Monetary base貨 幣 基 礎 ， 貨 幣 基 數 The sum of reserve accounts of financial institutions at Federal Reserve banks and currency in circulation. It is the ultimate source of the nation''s money supply and is controllable, to some degree, by Federal Reserve monetary policy. The adjusted monetary base data is compiled weekly by the Federal Reserve Board and the Federal Reserve Bank of St. Louis, and is adjusted seasonally.Monetary policy貨 幣 基 礎 ， 貨 幣 基 數 A government''s efforts to control its money supply.Money market fund貨 幣 市 場 基 金 A type of mutual fund that invests in stable, short-term securities. Money funds are easily convertible into cash and usually maintain an unchanged value of $1 a share, but are not insured by the federal government.Mortgage banker抵 押 銀 行 A company or individual who creates mortgage loans, sells them to other investors and handles mortgage-related services.Mortgage bonds抵 押 債 券 Debt issues secured by a mortgage on the issuer''s property, such as buildings or equipment.Mortgage backed securities按 揭 證 券 Debt issues backed by a pool of mortgages. Investors receive payments from the interest and principal payments made on the underlying mortgages.Municipal bond市 政 公 債 ， 公 用 債 券 Bond issued by local-government authorities, including states, cities and their agencies.Mutual fund互 惠 基 金 A fund that pools the money of its investors to buy a variety of securities. Open-end mutual funds sell as many shares as investors want. Closed-end mutual funds offer only a fixed number of shares and usually trade on an exchange.Net asset value資 產 淨 值 For a mutual fund, the NAV is the value of of all investments held by the fund, usually expressed in per-share terms. The NAV is calculated daily at the close of the markets.Net income淨 收 入 ， 純 利 The amount left after a company''s taxes and all other expenses have been paid. Also called earnings or profit.Net worth淨 值 ， 資 產 淨 值 The amount by which assets exceed liabilities.Note票 據 ， 期 票 ， 紙 幣 A written promise by a government or corporation to repay a debt. The date for repayment is generally a year to 10 years later.Operating income營 業 收 益 Net income excluding income derived from sources other than the company''s regular activities and before income deductions. Also called net operating income or net operating loss. Odd lot散 股 ， 碎 股 ， 零 星 散 股 Purchase or sale of securities in any amount less than 100 shares.Open-end mutual fund開 口 互 助 基 金 A type of fund that issues as many shares as investors demand. Most mutual funds are open-end funds.Option series期 權 系 列 A number of options on the same underlying stock that have the same strike price and expiration month.Out of the money未 到 價 ， 失 值 A term used to describe an option worth nothing if exercised immediately. In the case of a call option, it means the strike price is higher than the current price of the underlying security. In the case of a put option, it means the strike price is lower than the current price of the underlying security.Over-the-counter market場 外 交 易 市 場 ， 店 頭 市 場 A market in which securities transactions are conducted by dealers through a telephone and computer network connecting dealers in stocks and bonds. Also called OTC trading. Par value票 面 值 ， 平 價 The face value of a security.Pass-through securities帕 斯 魯 證 券 A security that comprises a pool of debt instruments. The income from the debt is passed through an intermediary -- usually a government agency or investment bank -- to the investors.Payment date發 放 日 期 The date that a stock''s dividend or a bond''s interest payment is scheduled to be paid.Payout ratio派 息 率 The percentage of earnings paid to shareholders as dividends.Penny stock小 額 股 票 Many penny stocks do indeed have a share price of less than $1, but this informal designation now often includes stocks that are priced at $5 and below. While many legitimate companies have share prices that low, the term "penny stocks" usually refers to speculative companies with little or no real business that are heavily promoted by unscrupulous, hard-selling brokerage firms.Pink sheets 美 粉 紅 色 定 價 單 The printed quotations of the bid and ask prices of over-the-counter stocks, published by National Quotation Bureaus Inc.Point價 位 ， 點 An amount paid to a mortgage lender, at the time of closing, above and beyond the regular interest payments. Each point equals 1% of the mortgage face amount. When you are buying a home, points are tax-deductible in full for the year you pay them, provided that they are not out of line for your area and that the represent prepaid interest, which they usually do. If you pay points when you refinance, however, you must amortize the tax deduction over the life of your loan.Poison pill毒 藥 A takeover defense tactic designed to make a hostile takeover prohibitively expensive.Portfolio投 資 組 合 A collection of securities held by an investor.Portfolio insurance資 產 組 合 保 險 A method of hedging, or protecting, the value of a stock portfolio by selling stock-index futures contracts when the stock market declines. The practice was a major contributor to the October 1987 stock market crash.Precious metal貴 金 屬 Commodities such as gold and silver that are used as investment instruments.Preferred stock優 先 股 Ownership shares of a company that have no voting rights but do have a set, guaranteed dividend payment.Premium溢 價 ， 高 水 ， 期 權 費 ， 頂 手 費 In general, the amount by which one security price exceeds another security price.Prepayment預 付 ， 預 付 款 項 Early payments of mortgage loans by homeowners. Refinancing triggered by falling interest rates can cause increased prepayments, which may cause the mortgage securities they back to be called early.Price-earnings ratio (/E)市 盈 率 A ratio to evaluate a stock''s worth. It is calculated by dividing the stock''s price by an earnings-per-share figure. If calculated with the past year''s earnings, it is called the trailing P/E. If calculated with an analyst''s forecast for next year''s earnings, it is called a forward P/E. Also called the P/E ratio or multiple.Pricing定 價 ， 標 價 The job of the underwriter to determine the price it will pay the company for a security. It is usually done the day before the sale of the security.Prime rate最 優 惠 利 率 ， 基 本 利 率 The interest rate banks charge their most creditworthy commercial customers. Banks use the prime as a base to set rates for credit cards, home-equity loans, and other loans, including loans to small and medium-size businesses.Private mortgage insurance抵 押 權 保 險 PMI is generally required by lenders if the down payment on a home is less than 20% of the home''s purchase price.Private placement私 人 配 售 ， 非 公 開 發 行 The sale of stocks or other investments directly to an investor. The securities in a private placement don''t have to be registered with the Securities and Exchange Commission.Probate遺 囑 檢 驗 證 The procedure in each state required to validate a will.Producer price index生 產 物 價 指 數 A group of statistics compiled by the Labor Department that are used as a gauge of inflation at the wholesale level. The index for finished goods -- which tracks commodities that will not undergo further processing and are ready for sale to the ultimate user -- is the most prominently reported of the statistics. Abbreviated as PPI. Profit利 潤 ， 盈 利 The amount left after the company''s taxes and all other expenses have been paid. Also called net income, or earnings.Profit margin利 潤 率 ， 盈 利 率 A measure of a company''s profitability, cost structure and efficiency, calculated by dividing a measure of profits by sales. Gross margins are based on gross profits -- sales minus the cost of producing the goods sold. Pretax profit margins are based on pretax profits -- sales minus all operating expenses. After-tax profit margins are based on after-tax profits -- sales minus operating expenses and taxes.Profit-taking獲 利 回 吐 Selling securities after a recent, often rapid price increase.Program trading程 式 買 賣 ， 電 腦 程 式 買 賣 Stock trades involving the purchase or sale of a basket including 15 or more stocks with a total market value of $1 million or more. Most program trades are executed on the New York Stock Exchange, using computerized trading systems. Index arbitrage is the most prominently reported type of program trading.Prospectus招 股 章 程 ， 招 股 書 A formal, written offer to sell securities that sets forth the plan for a proposed or existing business. The prospectus must be filed with the Securities and Exchange Commission and given to prospective buyers. A prospectus includes information on a company''s finances, risks, products, services and management.Proxy授 權 代 表 人 ， 代 理 人 Written authorization given by a shareholder to someone else to vote on the shareholder''s behalf at the company''s annual meeting.Proxy fight委 託 書 爭 奪 戰 A contest for control of a company in which one or more companies, groups or individuals seek proxies from a company''s shareholders to back a takeover attempt.Proxy statement代 表 權 申 明 書 A document mailed with a proxy that gives information about the company or group seeking the proxy votes and matters scheduled for consideration at the shareholder meeting.Public company 英 上 市 公 司 ， 股 份 公 開 公 司 A company that sells shares of its stock to the public. Public companies are regulated by the Securities and Exchange Commission. Also called a publicly held company.Put option看 跌 期 權 ， 沽 出 期 權 An agreement that gives an investor the right but not the obligation to sell a stock, bond, commodity or other instrument at a specified price within a specific time period.Pyramiding金 字 塔 式 控 股 ， 金 字 塔 式 投 資 A scheme that can take many forms, some of them legal. One example is using unrealized profits from a securities position as collateral to obtain new positions on margin.Qualitative analysis定 性 分 析 A research technique that deals with factors that cannot be precisely measured such as employee morale and management expertise.Quantitative analysis定 量 分 析 A research technique that deals with measurable assets such as the value of assets and the cost of capital.Real estate investment trusts (REITs)地 產 投 資 信 託 ， 房 地 產 投 資 信 託 A trust or association which invests in a variety of real estate. REITs are managed by one or more trustees, like a mutual fund, and trade like a stock. No federal income tax needs to be paid by the trust if 75% of the income is real-estate related and 95% of the income is distributed to investors. Individual investors can be taxed.Recession經 濟 衰 退 A downturn in economic activity, broadly defined by many economists as at least two consecutive quarters of decline in a nation''s gross domestic product.Record date註 冊 日 期 The date on which a shareholder must own a company''s stock to be entitled to receive a dividend.Recovery經 濟 復 甦 In a business cycle, the period after a downturn or recession when economic activity picks up and the gross domestic product increases.Regional exchange 美 地 方 證 券 交 易 所 Securities exchanges located outside of New York City. They include the Boston, Philadelphia, Chicago, Cincinnati and Pacific stock exchanges. Stocks listed on the New York Stock Exchange or the American Stock Exchange also may trade on regional exchanges.Reserve requirement儲 備 規 定 ， 儲 備 要 求 The Federal Reserve''s limit on the level of financial assets banks must keep on reserve and not lend out or reinvest. These reserves help determine how much money the banks can lend.Return on equity股 東 回 報 ， 股 東 回 報 率 A measure of how much the company earns on the investment of its shareholders. It is calculated by dividing a company''s net income by its common shareholders'' equity.Return on investment投 資 盈 利 ， 投 資 報 酬 率 A measure of how much the company earns on the money the company itself has invested. It is calculated by dividing the company''s net income by its net assets.Revenue收 益 ， 稅 收 Money a company takes in, including interest earned and receipts from sales, services provided, rents and royalties.Revenue bond收 益 債 券 A bond backed only by revenue from the airport, roadway or other facility that was built with the money it raised.Reverse floater反 向 浮 息 票 據 A sometimes volatile mortgage-backed bond whose yield fluctuates in the opposite direction of interest rates in general. Also called an inverse floater.Revolving credit輪 迴 式 信 貸 ， 循 環 信 用 證 A line of credit that may be used repeatedly up to a specified total, with periodic full or partial repayment.Rider附 加 條 款 ， 追 加 條 款 In life insurance, a provision added to a policy to add or alter the coverage.Rights offering股 權 出 售 ， 供 股 建 議 Offering of rights to existing shareholders of a company to additional shares, usually at a discount to the market price. The shares can be actively traded.
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Round lot一 手 ， 批 股 100-share increments of stock.Sales銷 售 量 ， 銷 售 額 Money a company receives from the goods and services it sold. In some cases, the amount includes receipts from rents and royalties.Secondary market二 級 市 場 ， 次 級 市 場 Market for issues that were previously offered or sold.Secondary offering第 二 次 募 集 ， 二 級 分 配 The sale to the public of a usually large block of stock that is owned by an existing shareholder.Security抵 押 品 ， 證 券 A financial instrument that indicates the holder owns a share or shares of a company (stock) or has loaned money to a company or government organization (bond).Sell off拋 售 ， 沽 盤 ， 廉 價 清 貨 A period of intensified selling in a market that pushes prices sharply lower.Senior security優 先 擔 保 A security with claims on income and assets that rank higher than certain other securities. For example, mortgage bonds are senior to debentures, and debentures are senior to common stock.Share股 份 ， 股 票 An investment that represents part ownership of a company or a mutual fund.Short covering保 倉 ， 保 空 倉 Trades that reverse, or close out, short-sale positions. In the stock market, for instance, shares are purchased to replace the shares previously borrowed.Short interest拋 空 差 額 Total number of shares of a given stock that have been sold short and not yet repurchased.Short selling拋 空 ， 賣 空 A trading strategy that anticipates a drop in a share''s price. Stock or another financial instrument is borrowed from a broker and then sold, creating a short position. That position is reversed, or covered, when the stock is repurchased to repay the loan. The short seller profits if he or she is able to repurchase stock at a lower price than he or she received in creating the short position.Short squeeze被 逼 做 空 Occurs when the price of a security rises sharply, causing many short sellers to buy the security to cover their positions and limit losses. That buying leads to even higher prices, widening the losses and squeezing of short sellers who haven''t covered their positions.Short-term gain or loss短 期 收 益 或 虧 損 For tax purposes, the profit or loss from selling capital assets or securities held six months or less. Short-term gains are taxed at the highest ordinary income-tax rate.Spin-off分 拆 ， 獨 立 上 市 The distribution to a company''s shareholders of the stock in a division or subsidiary.Spread價 位 ， 差 額 In stocks, the difference between the bid and asked prices. In fixed-income securities, the difference between the yields on securities of the same quality but different maturity or the difference between the yields on securities of the same maturity but of different quality.Standard & Poor''s 500 stock index標 準 普 爾 五 百 種 股 份 指 數 A benchmark index of 500 large stocks, maintained by Standard & Poor''s, a division of McGraw-Hill Cos. Also called the S& 500.Standard deduction標 準 稅 減 When you figure your income tax, this is how much you can deduct from your taxable income if you decide not to itemize your deductions. About 70% of all individual income tax returns use the standard deduction.Stock股 票 ， 股 份 An investment that represents part ownership of a company. There are two different types of stock: common and preferred. Common stocks provide voting rights but no guarantee of dividend payments. Preferred stocks provide no voting rights but have a set, guaranteed dividend payment. Also called shares.Stock appreciation right股 票 增 值 權 An executive compensation plan, usually linked to stock options, that gives recipients the opportunity to benefit from a rise in the company''s stock price without exercising the options. Stock-appreciation-rights payments can be in cash, an equivalent amount of stock or some combination of the two.Stock index futures股 票 指 數 期 貨 A contract to buy or sell the cash value of a stock index by a specified date.Stock option認 股 權 ， 股 票 認 購 權 An agreement allowing an investor to buy or sell something, such as shares of stock, within a stipulated time and for a certain price. Also, it is a method of employee compensation that gives workers the right to buy the company''s stock during a specified period of time at a stipulated exercise price.Stock split折 股 ， 分 股 A change in a company''s number of shares outstanding that doesn''t change a company''s total market value, or each shareholder''s percentage stake in the company. Additional shares are issued to existing shareholders, at a rate expressed as a ratio. A 2-for-1 stock split, for instance, doubles the number of shares outstanding. Investors will own two shares after the split for each share they owned before the split.Stop order限 價 盤 ， 限 價 買 賣 指 令 An investor''s order to a broker to buy or sell a security when its market price reaches a certain level.Strike price行 使 價 ， 設 定 價 格 A specified price at which an investor can buy or sell an option''s underlying security.Strip購 股 分 紅 The practice of splitting a bond''s principal and coupon (the interest rate that the bond issuer''s promises to pay) and then selling them separately. The Treasury issues one variation, known as Strips, an acronym for Separate Trading of Registered Interest and Principal of Securities.Subordinated debenture次 級 債 券 A debt security that will be paid off after the issuer first pays off debt to senior creditors in the event of the dissolution of the company.Swap互 換 交 易 An agreement that exchanges one security''s return for another''s return.Technical analysis技 術 分 析 Research of a security or market sector that uses trading data, such as volume and price trends, to make predictions.Tenancy in common共 有 租 賃 A way in which two people can own property together with no rights of survivorship. Should either die, the deceased''s share of the property will pass through his or her estate, not to the survivor.Tender offer股 權 收 購 A public offer to a company''s stock or debt holders to acquire some or all of their shares or bonds.Tick波 動 點 ， 信 用 Upward or downward price movements in a security or index. A downtick is the sale of a security at a price below the preceding deal. An uptick is a sale executed at a price higher than the preceding sale. For stocks, ticks are in 1/8 increments. For bonds, a tick can be a move of 1/32.Tokyo Stock Price Index東 京 股 價 指 數 Index of the larger issues on the Tokyo Stock Exchange. Also called TOPIX.Total return總 收 益 A security''s total return reflects not only the income that it pays out from interest or dividends but also any change in its share price or principal value. In the case of mutual funds, you have to reinvest the income and capital-gains distributions to match the fund''s published total return.Trader貿 易 商 People who negotiate prices and execute buy and sell orders, either on behalf of an investor or for their own account.Tranche部 份 A portion of a bond offering, delineated by maturity.Treasury國 庫 Securities (bonds, notes or bills) issued by the U.S. government. A Treasury bill is a certificate representing a short-term loan to the federal government that matures in three, six or 12 months. A Treasury note matures in two to 10 years. A Treasury bond matures in more than 10 years. Among bonds, the 30-year issue is considered a key indicator of trends in long-term interest rates.Turnover成 交 量 In accounting terms, the number of times an asset is replaced during a set period. In trading, the volume of shares traded on the exchange on a given day. In employment matters, turnover refers to the total number of employees divided by the number of employees replaced during a certain period. In the U.K., the term refers to a company''s annual sales volume.
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Underwriter?FONT SIZE=2>] 銷 人 ， 承 銷 商 In the securities business, a company that for a fee brings an issue of stocks, bonds or other securities to market. The underwriter buys all or most of the issue, then resells it to investors.Unified credit 美 統 一 抵 免 For estate-tax and gift-tax purposes, a tax credit that allows every taxpayer to exclude up to $600,000 in assets.Uninsured motorist coverage未 保 險 駕 駛 人 保 險 The part of an auto-insurance policy that pays your losses in an accident caused by a hit-and-run driver or one who is not insured.Unit investment trust單 位 投 資 信 託 A fixed portfolio of stocks or bonds with a specific maturity date. Generally sold by brokers.Universal life綜 合 性 人 壽 保 險 A type of cash-value life insurance that gives policyholders considerable flexibility to skip payments or vary the amounts that they pay.Up-tick提 價 交 易 A sale of a listed security that occurs at a higher price than the previous transaction.Value-line composite index買 賣 價 值 線 綜 合 指 數 A gauge that covers about 1,700 stocks tracked by the Value Line Investment Survey and are traded on the New York Stock Exchange, the Nasdaq Stock Market and the American Stock Exchange.Variable life死 亡 賠 償 可 變 的 人 壽 保 險 A type of cash-value life insurance in which policyholders can allocate their accumulated cash value among several stock and bond investment accounts. Many variable policies are technically of the variable universal variety, meaning they also offer the payment flexibility of universal life insurance.Venture capital創 業 資 本 Financing for new businesses. In return for venture capital, investors may receive a say in the company''s management, as well as some combination of profits, preferred shares or royalties.Volatility變 異 性 ， 不 穩 定 性 The characteristic of a security or market to fall or rise sharply in price in a short-term period.Volume成 交 量 ， 交 投 量 Number of shares traded in a company or an entire market during a given period.Warrant認 股 權 證 ， 窩 輪 A security that allows an investor to purchase an amount of stock at a specified price within a certain time period.Whole life終 身 保 險 The most widely purchased type of cash-value life insurance. If premiums continue to be paid, coverage is usually guaranteed for the whole of life.Writer出 權 人 ， 賣 方 In the options market, the seller of put and call options.Yankee bond楊 基 債 券 ， 美 國 佬 債 券 Dollar-denominated bonds sold in the U.S. by foreign companies or government entities.Yield盈 利 ， 收 益 The annual rate of return on an investment, as paid in dividends or interest. It is expressed as a percentage, generally obtained by dividing the current market price for a stock or bond into the annual dividend or interest payment. Zero-coupon bond無 息 債 券 A bond sold at a deep discount. It does not pay periodic interest payments to investors; instead, investors receive their return on investment at maturity. The return is equal to the difference between the bond''s price at issuance and its face value.
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HOHO总于是好了太累人了在贴下去的体力要没了
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值得好好学习[em1]
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不错，不错[em59] [em59] [em59]
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头疼
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绝对好贴支持楼住华崽！！
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QUOTE:原文由 [B]天天向上[/B] 发表:头疼
我自己也看的晕了啊呵呵
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这样精致的贴子还是多多益善!
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呵呵，楼上的没看吧看了肯定的会眼睛疼的
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thank you very much !
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有灌水的嫌疑[em4] [em4] [em4] [em4]
加拿大电商刚从事这行半年，对电子行业不了解，自己整理了些，算是学习，供大家分享，也请大家补充。我毕竟是个文科生，对这方面知识严重欠缺。 DVD:英文全名是Digital Video Disk, 即数字视频光 加拿大电商昨天我把提单复件发给了客户，今天收到了他回信，如下： Dear Nicholas, please send all shipping documents. We will check B/L copy and we will reply ASAP. Thank you Best Regards .........................................
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